ABOUT THE SPOTLIGHT
- The impacts of the Papua New Guinea Liquefied Natural Gas project (PNGLNG) on house sales and rent prices were explored.
- The construction phase of the PNGLNG resulted in rapid economic activities in Port Moresby, which “pushed up” house sales and rent prices.
- At the end of the construction phase of the PNGLNG, house sales and rent prices decreased but still remained beyond the reach of most Port Moresby residents.
- It is necessary to consider the economic cycle of PNG in decisions associated with urban development.
- Prior to implementing a development project such as the PNGLNG, socio-economic impact assessments must be conducted.
- To promote access to affordable housing during a development project, more houses must be built accompanied with trunk infrastructure, and activities of real estate agents in the housing market managed properly.